One-Page Deal Sheet
Newfield Exploration Joins With Hess Corporation in Marcellus Shale Play
Newfield Exploration Co. Hess Corp
Announced Date
October 19,2009
Transaction Type
JV
Asset/Basin:
{"Appalachian Basin","Marcellus Shale"}
TargetZones:
{"Marcellus Shale"}
Location
Region
Northeast
Country
United States
State
Pennsylvania
County
Wayne ,Susquehanna
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Newfield Exploration Company and Hess Corporation announced the signing of a joint exploration agreement in the Marcellus Shale play. The agreement covers up to 140,000 gross acres primarily in Susquehanna and Wayne Counties, Pennsylvania. Newfield will operate the new venture with each company having a 50 percent interest.
"Today marks our entry into the Marcellus Shale - likely to become one of our nation's largest natural gas resource plays," said Lee K. Boothby, Newfield President and CEO. "Today, with substantially all of our acreage held-by-production in the Woodford Shale, it's a great…
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